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| Report: Business will benefit immediately after DRA is gone |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Thursday, 05 August 2010 00:00 |
 Companies in the City of London and across the rest of the UK will benefit financially from the scrapping of the default retirement age (DRA), a new report has stated.It was announced by the Conservative-Liberal Democrat coalition last week (July 29th) that the DRA - which allows employers to enforce compulsory retirement on its members of staff as soon as they reach the age of 65 regardless of their circumstances - will be removed from British law altogether as of October 2011. This abolition will be preceded by a six-month period of it gradually being taken away and the government departments of Business, Innovation and Skills and work and Pensions have stated in a report that this will serve to aid British business straight away. In the study, which is entitled Phasing out the DRA - Consultation Document, the government noted that employers will save around £45 million in the first 12 months after it is scrapped. Posted by James Strang 
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